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20/28
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1-Close stops.2-Enter only at the point of least risk.3-Study what the market pattern is telling you.4-Learn the habits of the traders who know what they are doing.5-Prepare before you sit down to trade.You have to understand that it does not matter what you think the market will do, it will not go anywhere unless there is an imbalance between the buyers and the sellers. One side needs to be winning for the market to trend.The other thing is that you can enter the market at anytime you get a signal that is valid. These signals appear 5 or 10 times a day.Novices never get to learn that the market is easy because they rush in without studying the market flow. Many just listen to brokers and they do not have on line data to see what the market is doing.You have to have the facilities of the professional trader to call yourself one. Most of all you have to act like one.The biggest common fault of losers is that they take a position and will not get out of it when the writing is on the wall that they were wrong. You will always know when you were right and you will always know that if you took a trade and it didn't do what you thought it would you are nowwrong. If it look like it is not…
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SpecialFX avatar

Mado, try to include a few images/charts in your future articles, because that way you could have more "quality" points :) Some good advice in this article though, especially the bit about traders not closing their losing positions, that is a big problem inexperienced traders face. Letting losses run and then quickly closing their profitable positions is a recipe for disaster.

doctortyby avatar

By close stops, what range of pips do you mean?? Over the medium term and long term close stops are different on the spread of the price over the price action chart. Over the short term, intraday trading and scalping, close stops will take you out because of the noise in the markets.

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39/53
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Last week I started with interesting insight into the minds of traders through 6 most common habits traders often committing. Today I prepared another six. Enjoy and learn from somebody's mistakes.7) Using too much indicators - When you starting, you usually tend to think that more of everything is simply better. That more indicators you put to your charts the earlier you will spot the trend or a reversal. But more and more studies you add, you start to lose your ground and everything is a big mess on your charts and the important things start to fade away. Not mentioning that every trader on the world has the same possibility and in the end we all can use the same indicators if we only want. So, probably, there is no hidden formula in those. Look at some examples - my earlier chart and how I trade now. 8) Relying on other's predictions - When our trading plan doesn't work or we do not follow its rules, we often seek some reason, why we are unsuccessful. But instead of blaming us for not obeying the rules of trading plan or money management, we start to think, that problem is in our bad market prediction. What if other people know what happens next? What if they have some insight I…
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marius24 avatar
marius24 22 Mar

my brother..you have some kind of views of a great trader..good luck

andrew_d avatar
andrew_d 26 Mar

Thank you for your kind words! I appreciate it!

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